Ripple Price Technical Analysis – XRP/USD To Continue Higher

Ripple Price Technical Analysis – XRP/USD To Continue Higher

Key Highlights

Ripple price remains in an uptrend and is currently placed well above the $0.2020 level against the US Dollar.

Yesterday’s highlighted major bullish trend line with current support at $0.2010 on the hourly chart of XRP/USD (data source from Kraken) is still intact.

The price might continue to move higher and it could break the 0.2100 resistance soon.

Ripple price is slowly moving higher against the US Dollar and Bitcoin. XRP/USD needs to gain momentum to register heavy gains above $0.2100.

Ripple Price Uptrend

We saw a couple of bullish swings in Ripple price recently above $0.2000 against the US Dollar. The price is currently placed well in the bullish zone above the $0.2000 handle. The most important aspect is the fact that the price is currently well above the 100 hourly simple moving average and $0.2000. It has recovered well from the $0.1880 low and already above the 50% Fib retracement level of the last drop from the $0.2148 high to $0.1880 low.

Moreover, yesterday’s highlighted major bullish trend line with current support at $0.0.2010 on the hourly chart of XRP/USD is a strong support. As long as the pair is above $0.2000 and the 100 hourly simple moving average, it remains in the bullish zone. On the upside, a break above the $0.2100 is needed for buyers to gain momentum. There is now a connecting resistance trend line forming with current barrier at $0.2110.

Once there is a close above $0.2100 followed by $0.2110, the next stop could be $0.2150. Overall, buying dips remain a good option above $0.2000 for further gains. A close below $0.2000 could push the price back towards $0.1850.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is lacking pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level.

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